LONDON, UK, November 16, 2018 – IdentityMind, Digital Identities You Can Trust, announced that IdentityMind will be exhibiting its SaaS-based risk, compliance, and fraud prevention Version 2.0 platform in Booth 819 at the November 19–20 LendIt Fintech Europe, Europe’s leading event for innovation in financial services, at the Business Design Centre, London.

LendIt Fintech Europe, a gathering of more than 1,200 industry professionals in London, showcases the leaders in innovation across financial services, including the digital banking, fintech, blockchain and lending industries.

“IdentityMind’s Trusted Digital identities-based platform is the right fit for FinTechs doing business in global markets by allowing them to significantly reduce identity fraud and risk exposure,” said Jose Caldera, Chief Products and Marketing Officer, IdentityMind. “FinTechs face a multitude of challenges in verifying a borrower’s true identity due to the enormous volume of false, stolen or synthetic identities. IdentityMind stands at the forefront by offering these companies a digital identities-based platform to protect their brands while stopping bad actors.”

Data breaches continue to soar, unleashing millions of personal identity information (PII) – credit/debit card numbers, emails, passwords, and more – placing data in the hands of nefarious actors who seek to exploit them using stolen, false or synthetic identities. In the U.S alone, the Identity Theft Resource Center reported over 668 breaches comprising 22,408,258 compromised records between January 1 and July 2, 2018. The 2018 Identity Fraud Study by Javelin Strategy & Research reported that fraudsters hit 16.7 million fraud victims in the U.S. in 2017 – up from 15.4 million in 2016 – with credit card accounts representing the most prevalent target for new account fraud, accompanied by email payments and other internet accounts.

IdentityMind’s Version 2.0 platform is used by hundreds of customers spanning six continents to help them fight identity fraud and meet regulatory compliance requirements without introducing customer friction or increasing false positives with the following:

Know Your Customer (KYC) and Enhanced Due Diligence (EDD): The IdentityMind Version 2.0 platform enables clients to not only do identity verification, but to also protect their platforms against synthetic or stolen identities and enable them to do enhanced due diligence on their users. This approach is further complemented with integrations from IdentityMind’s industry-leading ecosystem of 30+ plus third-party technology partners, providing device, email, phone, identity, document, sanctions screening, geolocation, biometric, behavioral verification, and more, through a single, standards-based API.

IdentityMind RegTech Webstore for KYC and Anti-Money Laundering:IdentityMind’s recently released IdentityMind RegTech Webstore enables firms located anywhere in the world to integrate regulatory compliance functions directly into their solutions in less than an hour. IdentityMind plugins are easily customizable, all-inclusive RegTech solutions ready to deploy in web applications covering the key anti-money laundering functions: know your customer (KYC), sanctions screening, and transaction monitoring. It’s the perfect channel for small and medium-sized FinTechs, marketplaces, virtual currency exchanges, small lenders, and person-to-person payment (P2P) firms to enhance their compliance platforms.

GDPR-Ready: IdentityMind’s Version 2.0 platform is GDPR-ready and was built with privacy designed in. As a data processor, IdentityMind fully complies with GDPR and uses it solely for fraud prevention and regulatory compliance.

LendIt Fintech is a recognized global Internet finance industry leader, founded in New York in 2013. Its aim is to gather industry elites to discuss and explore latest trends in the development of international financial services technology. LendIt Fintech has become the largest event in financial services innovation, as it hosts three annual conferences, LendIt Fintech USA, LendIt Fintech Europe, and LendIt Fintech China, and dozens of complementary online and in-person industry events. LendIt also owns and operates one of the world’s leading industry educational channels, Lend Academy. For more information, tickets, and sponsorship opportunities, please visit www.lendit.com.